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3601 W Pendleton Ave, Santa...

Updated Oct 29, 2024

Goodwill Industries Leases Industrial Property In Santa Ana To 3601 Pendleton LLC
LEASEDIndustrial

Goodwill Industries Leases Industrial Property In Santa Ana To 3601 Pendleton LLC

3601 W Pendleton Ave, Santa Ana, CA...

Building Size

31,206 SF

Asset Type

Industrial

Closing

May 11, 2021

About this deal

AI

The industrial building at 3601 West Pendleton Ave. in Santa Ana, spanning 31,206 square feet, has been leased to Goodwill Industries of Orange County. The property, recently renovated, will serve as a long-term solution for Goodwill's trailer storage and donated goods sorting needs. In light of the significant increase in donations due to COVID-19, this location adjacent to another Goodwill facility offers an ideal space for their operations.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Tenant: Goodwill Industries
  • Landlord: 3601 Pendleton LLC
  • Square Feet: 31,206
  • Tenant's Rep: Matt Christensen (JLL)
  • Landlord's Rep: Morgan Hill (Stos Partners)

Matt Christensen of Lee & Associates-Newport Beach represented Goodwill Industries in the lease agreement, while Morgan Hill of Voit Commercial represented the landlord, 3601 Pendleton LLC. The relocation to this newly renovated facility aligns with Goodwill's strategic goals and operational needs in response to the changing landscape due to COVID-19 and the rezoning of their previous facility.

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Players

Matt Christensen

JLL

Broker

2 deals

Broker
GI
Goodwill IndustriesTenant
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Santa Ana Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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